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Updated: 2023-11-29 15:36:42

Hunger eradication and poverty reduction in Hoa Binh province

Preferential credit from VBSP Hoa Binh branch made a huge contribution in the task of hunger eradication and poverty reduction in the locality for many years.


Many households in Hoa Binh developed livestock and got out of poverty thanks to preferential credit

Hoa Binh is a mountainous province located in Northwest Vietnam with its population over 850,000 people, in which more than 74% is ethnic minorities. In recent years, Hoa Binh has made many efforts to reduce poverty and build new rural areas. Thanks to effective use of preferential credit from VBSP, thousands of households in the area have got out of poverty and enriched themselves.

Mr. Dinh Thi Yen’s family (Dung hamlet, Hien Luong commune, Da Bac district) was one of the typical households in the area. She said: “Due to disadvantaged economic circumstance, my family got a lot of difficulties when borrowing money from neighbors, they even refused to lend us. Luckily, we could borrow from VBSP to raise cows and farming. Then, we overcame the difficulties and had a stable source of income”. By 2021, her family officially has got out of poverty. Currently, she has raised more pigs and her herd of cow also has developed to 7 units.

Thach Yen commune (Cao Phong district) used to be the most disadvantaged area in the district. However, in recent years, people’s lives have been improved thanks to preferential credit from VBSP. Ms. Bui Thi Mu (Rom Khanh hamlet, Thach Yen commune) shared: Her family was in the list of the poor households before. When taken loan from VBSP, her family focused on growing grass to feed buffaloes. After few years, her family officially got out of the list of poor households and built a new house.

Mr. Nguyen Minh Hung, Director of VBSP Hoa Binh branch said: VBSP has tried the best to meet demand of the poor households and other policy beneficiaries. The branch has currently deployed more than 20 credit programs with the gradual increase of total outstanding loans. Thanks to effective uses of preferential, thousands of households escaped the poverty. In 2022, local entrusted capital reached over VND 102 billion, increasing by VND 40.9 billion compared to 2021.

At the beginning of 2023, there have been 18 thousand turns of customers taking loans for investment, production and business. In which, over 6,700 turns of the poor, near-poor, post-poor households receiving loans; over 3,300 job created; 13,000 works of rural safe water and sanitation.

Nguyen Van Toan, Vice Chairman of Hoa Binh Provincial People's Committee said: Social policy credit has affirmed its role in economic development, social security, sustainable poverty reduction and new rural construction.In addition, policy credit created conditions for the poor and policy beneficiaries to improve their lives, eliminate hunger, reduce poverty, implement social justice, and narrow the gap between rich and poor.

Viet Dao



Poor Households

Lending to poor households 6,6%/year
Lending to poor households in 64 poor districts as stipulated by the Government Resolution No.30a in 2008 3,3%/year

Near Poor Households

Lending to near poor households 7,92%/year


Lending to disadvantaged students 6,6%/year

People in need of loans for job creation

Lending to business establishments owned by war invalids and handicapped persons 3,3%/year


Term Deposit Rate
Overnight 3,04%/year
1 week 3,23%/year
2 week 3,5%/year